MIRA INFORM REPORT

 

 

Report Date :

16.05.2011

 

IDENTIFICATION DETAILS

 

Name :

KA  LONG  TRADING

 

 

Registered Office :

Flat D, 16/F., Tower 12A, Costa Del Sol (Phase IIB), Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

28.09.1999       

 

 

Com. Reg. No.:

30390926-000-09

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer and Exporter of all kinds of diamonds and jewellery

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

KA  LONG  TRADING

 

 

Company ADDRESS    

 

Flat D, 16/F., Tower 12A, Costa Del Sol (Phase IIB), Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong.

PHONE:            2377 9089

 

 

MANAGEMENT

 

Manager:  Mr. Ritesh Becherbhai Khunt

 

 

SUMMARY

 

Establishment:              28th September, 1999.

 

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Employees:                   Nil.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat D, 16/F., Tower 12A, Costa Del Sol (Phase IIB), Laguna Verde, 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

30390926-000-09

 

 

MANAGEMENT

 

Manager:  Mr. Ritesh Becherbhai Khunt

 

 

SOLE PROPRIETOR

 

Name:                           Mr. Ritesh Becherbhai KHUNT

Residential Address:      Flat D, 16/F., Tower 12A, Costa Del Sol, Phase 3, Laguna Verde, 8 Laguna Verde

Avenue, Hunghom, Kowloon, Hong Kong.

 

 

HISTORY

 

The subject was established on 28th September, 1999 as a sole proprietorship concern owned by Mr. Biren Surendra Parikh under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name

Incoming Date

Outgoing Date

Biren Surendra PARIKH

28-09-1999

01-09-2006

Tanmay Achyut BHATT

26-06-2006

20-05-2010

Ritesh Becherbhai KHUNT

26-03-2010

-

 

Initially the subject was located at Flat C, 6/F., Bo Yip Building, 6 Ashley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in October 2005.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer and Exporter.

 

Lines:                           All kinds of diamonds and jewellery.

 

Employees:                   Nil.

 

Commodities Imported:   India, Thailand, other Asian countries, Belgium, etc.

 

Markets:                       USA, Southeast Asia, Middle East, etc.

 

Terms/Sales:                 As per contracted.

 

Terms/Buying:               T/T, L/C, D/P, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a very small profit in the past years.

 

Condition:                      Business is normal.

 

Facilities:                      Making fairly active use of general banking facilities.

 

Payment:                      Met trade commitments on time.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Ka Long Trading is a sole proprietorship operated by Mr. Ritesh Becherbhai Khunt who is an Indian.  He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject was set up by Mr. Biren Surendra Parikh in September 1999.  However, Parikh retired on 1st September, 2006.  Khunt joined in the subject on 26th March, 2010.

The subject does not have its own operating office.  Its registered address is in the residence of the sole proprietor in Hong Kong.  It is in a luxury flat in Costa Del Sol which is a residential building not trespassed by outsiders.

The subject has no employees.  It is trading in loose diamonds, polished and cut diamonds, precious stones, ruby jade, gem sets, semi-precious stones, etc.  Commodities are chiefly imported from India.  Some of the rough diamonds are polished or processed in Hong Kong or China.  Finished products and jewellery are exported or re-exported to the United State, the Middle East, Japan and the other Asian countries.

Business chiefly handled by Khunt himself, the subject is just a one-man company.  Making a small profit every year.

Since the history of the subject in Hong Kong is over eleven years and three months, on the whole, consider it good for normal business engagements.

 

COURT CASES:            None per our.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.